PROJECT DETAILS
** FIRST TIME BUYERS: If you are planning to buy your very first property and do not know whether to buy a Resale HDB, BTO or a new launch EC, let us discuss your best possible option.
** EXISTING HDB OWNERS: If you are planning to change to another property, and would like to know whether to buy a EC or private condominiums, let us help you to assess your best possible options to get better returns on your dollars. We do not want to under-leverage on ourselves.
The Housing and Development Board (HDB) has sold a residential site in Choa Chu Kang Avenue 5 as part of Government Land Sales (GLS), in the 3rd quarter 2015. This land parcel is set in West Region of Singapore, bounded by Brickland Road and a new upcoming road in Choa Chu Kang Avenue 5. It is listed under the confirmed list of sites and is allocated to be developed into an Executive Condo EC site. With a plot land size of 176,378 square feet, new Choa Chu Kang Avenue 5 EC is estimated to house 490 housing units.
QingJian Realty, Suntec Property Ventures and Bohai Investments won the top bid of S$156 million, translating to about S$295 per square foot per plot ratio (psf ppr). The breakeven price is approximately $587 psf ppr.
Leverage on Income/Profit to enjoy privilege of ECs with High Profit Margin
New and upcoming EC in Choa Chu Kang Avenue 5 is approximately 900 m away from South View LRT station. Future residents of New EC will just need to travel 1 station to the Choa Chu Kang Town Centre where they can access the Choa Chu Kang MRT Station serving the North South Line and also the Choa Chu Kang bus interchange where there are several bus services travelling to various parts of Singapore. Future residents of New EC can easily access to the Kranji Expressway (KJE) via Brickland Road. It will take future residents of New EC in Choa Chu Kang Avenue 5 approximately 18 minutes of driving to the Orchard Shopping Belt and it takes approximately 22 minutes’ drive to the Central Business District (CBD) and City Centre.
New EC in Choa Chu Kang Avenue 5 is only minutes’ walk to Sunshine Place, a heartland mall where its future residents can easily get their daily conveniences. They can get their groceries and daily necessities at the large Giant supermarket there. Food is also easily accessible as Sunshine Place also housed a Kopitiam food court. There is great conveniences for future residents of New EC as the centre also provide facilities for children learning and education. Other shopping malls and neighbourhood centres that are within proximity to New EC includes Keat Hong Shopping Centre, Chua Chu Kang Xchange, Lot One Shopping Centre, Choa Chu Kang Centre, Teck Whye Shopping Centre and Limbang Shopping Centre. For wet market and hawker food, future residents of New EC in Choa Chu Kang Avenue 5 can also take a short drive down to Blk 155 Bukit Batok Street 11 Food Centre.
New EC is also near to many schools namely, Choa Chu Kang Primary School, Concord Primary School, South View Primary School, Hong Kah Primary School, Saint Anthony’s Primary School, Teck Whye Primary School and Dazhong Primary School. Secondary education facilities also include Bukit Panjang Government High School, Dunearn Secondary School, Swiss Cottage Secondary School, Choa Chu Kang Secondary School and Kranji Secondary School which are within short radius from this upcoming EC in Choa Chu Kang Avenue 5. New EC is also approximately 2 km away from Pioneer Junior College which makes it an ideal location for family living.
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| Project | New Choa Chu Kang Avenue 5 EC |
| Developer | QingJian Realty, Suntec Property Ventures and Bohai Investments |
| Location | Choa Chu Kang Avenue 5 |
| District | 23 |
| Tenure | 99 years lease |
| Site Area | 176,378 sqft / 16,386 sqm |
| GFA: | 529,136sqft/ 49,158 sqm |
| Plot Ratio | |
| Expected TOP: | |
| Total Units | Estimated 490 housing units |
| Total Carpark | |
| Development | Executive Condo comprising of |
| Unit Type: | |
| Architect | |
| Eligibility | SC/ SC and SC/SPR |
LOCATION and AMENITIES
Amenities Near New Choa Chu Kang Avenue 5 EC
| Category | Important Amenities Near New EC at Choa Chu Kang Avenue 5 | Approximate Distance |
| Train Stations | South View (BP2) Choa Chu Kang MRT (NS4/BP1) |
0.9km 1.3km |
| Bus Stop | Blk 486 (Bus: 300, 982E) | 0.1km |
| Supermarkets | Giant (Sunshine Place) Prime (Choa Chu Kang 253) Fairprice (Lot One) Sheng Siong (Teck Whye Lane) |
0.4km 1.2km 1.4km 1.7km |
| Shopping Malls | Sunshine Place Keat Hong Shopping Centre Chua Chu Kang Xchange Lot One Shopping Centre Chua Chu Kang Centre Teck Whye Shopping Centre Limbang Shopping Centre |
0.4km 0.7km 1.2km 1.4km 1.4km 1.6km 2.0km |
| Education Institutions | Preschool | |
| PCF Chua Chu Kang Blk 484-484A Kinderland (Choa Chu Kang) Kindergarten Hope Community Kindergarten (Choa Chu Kang) PCF Keat Hong Blk 295 PCF Keat Hong Blk 411 Zulfa Kindergarten PCF Chua Chu Kang Blk 123-208 Grace House Kindergarten Metamorphosis Kindergarten Al – Khair Mosque Kindergarten |
0.3km 0.4km 0.5km 0.5km 0.8km 0.9km 1.3km 1.4km 1.4km 1.5km |
|
| Primary | ||
| Chua Chu Kang Primary School Concord Primary School South View Primary School Hong Kah Primary School Saint Anthony’s Primary School Teck Whye Primary School Dazhong Primary School |
0.5km 0.6km 1.2km 1.4km 1.6km 1.9km 2.0km |
|
| Secondary | ||
| Bukit Panjang Government High School Dunearn Secondary School Swiss Cottage Secondary School Chua Chu Kang Secondary School Kranji Secondary School |
0.8km 1.4km 1.7km 1.7km 1.8km |
|
| Junior College | ||
| Pioneer Junior College | 2.0km | |
| Tertiary | ||
| Nanyang Technological University | 6.7km | |
| International | ||
| Singapore American School | 6.4km | |
| Food Centre | Blk 155 Bukit Batok Street 11 Food Centre | 3.4km |
| Lifestyle | Tembusu Park Warren Golf And Country Club Bukit Batok Golf Range HomeTeamNS @ Bukit Batok Choa Chu Kang Park Choa Chu Kang Sports Hall |
0.7km 1.0km 1.5km 1.6km 1.7km 2.0km |
FACILITIES and SITE PLAN
The Choa Chu Kang Avenue 5 EC Facilities and Site plan is currently seeking approval from relevant authorities. If you would like to be updated on first hand information for this upcoming EC aloing Choa Chu Kang Avenue 5 or would like to know more about progressive and deferred payment schemes, Please
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EC with SMART HOME TECHNOLOGY
Qingjian Realty has partnered Samsung Asia to integrate smart living technology into its future developments as these innovations become commercially-available.
They had signed a memorandum of understanding (MOU) to integrate smart living technology into new housing developments. The smart home will revolutionize the way private homeowners live, said Donald Ng, Qingjian's head of sales and marketing, at the MOU signing ceremony. Instead of installing smart gadgets upon moving into a regular home, Qingjian homeowners, will be able to plug into a smart home from the onset. The developer will put in place the necessary infrastructure during construction, so buyers will save time, money and effort, not having to create smart homes from scratch. The companies will also explore ways to help homeowners better connect their appliances with personal smart devices. As part of the agreement, the developer will also use Samsung's smart products in its upcoming projects.
Samsung will be providing smart appliances like built-in kitchen appliances, air conditioners, washing machines and refrigerators to future homeowners. The residents will get to enjoy high tech equipments. For instance, the technology will allow them to operate their washing machines remotely, at the touch of a smart device.
“What we aim to do is to start anticipating and building today the smart Qingjian home that you will be receiving the keys to in three to five years. One that already has the latest technology and infrastructure to integrate with your smart lifestyle at that point in time,” said Li Jun, General Manager, Qingjian.
In anticipation of rapid technological improvements, Qingjian hopes to ‘future-proof’ its new launches by incorporating the necessary infrastructure to support smart homes as they are constructed. This would ensure that buyers are able to plug into the smart home immediately.
Going forward, the partners hope to take this technology further, and will leverage on the Internet of Things (IoT) to enable homeowners to better integrate their technology with personal smart devices.
LET'S ENJOY with HILIFE INTERACTIVE APP
PROPERTY developer Qingjian Realty (South Pacific) launched HiLife, a mobile app that provides Qingjian homeowners to book facilities and purchase lifestyle and interior-decoration packages, among other services, a range of curated services and information needed for them to settle in their new homes
Through the app, future residents will also be able to book facilities within the development, sign up for yoga classes and enrol their children for tuition lessons, for example. A range of home services such as cleaning, renovation and interior design is also available on the app. Homeowners may also book facilities such as tennis courts, function rooms, and barbecue pits via the app.
Services offered through the app include home maintenance and lifestyle services such as air-con servicing, dance and tuition classes. Companies that have partnered the developer on this initiative include Electrolux and Samsung Electronics.
For homeowners who prefer to book amenities the traditional way, Qingjian said it would work with the management of its developments to come up with house rules, so no group would be prioritised over another.
The cost of the app will not be passed on to customers. “There will be no change in prices of future homes due to the add-on service of the HiLife app,” said Mr Li Jun, general manager of Qingjian Realty (South Pacific) Group.
HIGHER DEMAND FOR ECs WITH ITS HIGH PROFIT MARGIN AND LOW ENTRY PRICE
Owners of Executive Condominiums (EC) stand a huge capital potential appreciation in due of the low entry price to purchase a unit compared to private condominiums.
After a period of 10 years, the EC will be privatised, changing its status to be on level to a private condominium. Foreigners will be able to purchase the unit then. Owners typically enjoy a capital gain after their EC is privatised.
The above table shows a significant increase in capital appreciation for EC owners.
Purchasing an EC is extremely promising as we may look into such capital appreciation after it becomes privatised over time.
As the entry price for an Executive Condominium (EC) is much lower than a private condominium, demand for ECs has been on the rise. New EC units are generally 15-30% cheaper than private condominiums. In addition, first timer are entitled to receive a CPF Housing Grant of up to S$30,000. These make EC an extreme worthwhile asset to purchase.
Physical features are similar when comparing between a new executive condominium with a private condominium. This include facilities such as gym, clubhouse, security guard, tennis court, swimming pool and many more.
With Jurong and Woodlands transforming in Regional Centres with more job opportunities, residents in Choa Chu Kang will have a long term investment with high profit margin.
When doing a comparison between an executive condominium and private condominium, we know that both EC and private condominiums offer the same features such as swimming pool, gym, tennis court and many more,
As resale executive condominiums are typically larger in space comparing to its counterpart and with a lower entry price, demand has increased for the resale ECs. This has led to a narrowing of price gap.
Owners of resale ECs have profited greatly in the market with their low entry price and they had enjoyed the bigger space and same facilities.
With the new private condominiums in the vicinity transacting at about S$1000 psf, EC is a value buy as it will be 20-30% more affordable than other developments around.
With Jurong trasnforming itself into the 2nd business district and Northern Region of Singapore transforming into a life-style and commercial hub, the attractive pricing of EC in Choa Chu Kang Avenue 5 being 20-30% more affordable than other new private condominiums within the vicinity, will offer a significant upside for its homebuyers.
CHOA CHU KANG MASTER PLAN
New Choa Chu Kang Avenue 5 EC Vicinity- Housing: Better Living Environment
With the opening up of land formely occupied by Keat Hong Camp, Choa Chu Kang is set for an infusion of new homes and amenities, bringing a freash vibrancy to the area. Alongside, a variety of home choices on offer, the facilities and services essential for a quality living environment will be added progressively.
New amenities and developments to look forward include:
- A new Keat Hong community club at Choa Chu Kang Avenue by 2016
- The Hillion Mall/ Hillion Residences at Jelabu Road, located on the fringe of Choa Chu kang town.
- Recently opened The Tennery at Woodlands Road
- A nursing home along Choa Chu Kang North 6 will serve the needs of the elderly residents
New Choa Chu Kang Avenue 5 EC Vicinity- Leisure: New reasons to be outdoors
Green spaces and leisure choices abound in Choa Chu Kang. Centrally located in the town, Choa Chu Kang Park is the green heart of the area.
A string of neighbourhood parks including Stagmont Park, Limpang Park and Tembusu Park are within easy reach of residents. An extensive network of existing park connectors also bring green spaces such as the Bukit Timah Nature Reserve, Bukit Batok Town Park and Bukit Batok Nature Park closer to explorers and families.
Expect new parks and leisure spaces including:
- A linear park near Keat Hong Close by 2016
- A neighbourhood park at Keat Hong Link by 2016
- Greenery and recreational options accompanying the Rail Corridor that runs along the eastern part of Choa Chu Kang.
new Choa Chu Kang Avenue 5 EC Vicinity- Transport: Smoother, shorter journeys
Choa Chu Kang is currently well supported by 2 MRT Stations, namely Yew Tee and Choa Chu Kang. An LRT network further extends the public transport reach and links Choa Chu Kang with nearby Bukit Panjang. In the longer term the Jurong Region Line will also benefit Choa Chu Kang residents by improving the connectivity between towns in the West Region.
In the coming years, enhancements to the public transport and road networks will include:
- The addition of Bukit Panjang MRT Station, along the Downtown Line 2, to be ready by mid 2016
- Improvements to Choa Chu Kang Avenue 4
- Junction improvements at Brickland Road/ Bukit Batok Road
- Improvements to Choa Chu Kang Road from Choa Chu Kang Way to Upper Bukit Timah Road
- Improvements to Stagmont Road/ Choa Chu Kang Link
- Improvements to Kranji Expressway- Pan Island Expressway corridor with a "reversible flow" traffic scheme
- Planned improvements to Brickland Road from Kranji Expressway to Bukit Batok Road and junction inprovements at Choa Chu Kang Avenue 3/ Choa Chu Kang Drive.
Economy: More jobs near home
Residents at Choa Chu Kang can look forward to more jobs opportunities in Mandai Industrial Estate and Sungei Kadut Industrial Estate such as the upcoming International Furniture Park
JURONG REGION LINE and HIGH SPEED RAIL
SMRT awarded contract to construct and operate Singapore-KL high speed rail
SINGAPORE: The Republic's terminus for the Kuala Lumpur-Singapore High Speed Rail will be located at Jurong East.
Jurong East was chosen as it dovetails with Singapore's overall plans to transform the area into a second Central Business District, according to a statement.
Malaysia had earlier identified five terminus stations: Kuala Lumpur (at Bandar Malaysia), Seremban, Melaka, Muar, Batu Pahat, Nusajaya and the final stop in Singapore.
In a joint statement, both leaders noted "steady progress" on the High Speed Rail project and that agreements have been reached on the dual co-located Customs, Immigration and Quarantine (CIQ) configuration, the frequency bands to be reserved for High Speed Rail operations, as well as on locating the depot and stabling facilities in Malaysia.
High-Speed Rail: Developers to keep tabs on Government plans for surrounding land
TODAY reports: The high speed rail terminal station will take up 12ha — or less than a fifth — of the 67ha plot that will be acquired by the Government from Jurong Country Club.
At a media briefing, Urban Redevelopment Authority CEO Ng Lang said the area around the terminal station will be developed into “an attractive mixed-use development precinct for business”.
“This will include developing uses for office, for hotel, for retail, for entertainment,” he said.
The site has “special” characteristics as it surrounded by water bodies and greenery, Mr Ng noted. “On the waterfront ... we can put aside some space that can allow us to develop a family-friendly facility that can complement what we’re already planning for the Jurong Lake District and the new Science Centre.”
Resorts World Sentosa’s (RWS) Genting Hotel Jurong, which opened its doors in Jurong East last month, has hit the jackpot: It is located right next to the plot of land that will be redeveloped for the terminal station.
The Jurong Region Line JRL will bring greater connectivity to areas such as Jurong West, Jurong Industrail District, West Coast, Choa Chu Kang and new developments in Tengah. The Jurong Region Line JRL will connect these areas to main activity nodes in Boon Lay, Jurong East and the future Jurong Gateway.
QING JIAN TOP BIDDER FOR EC LAND SITE IN CHOA CHU KANG AVENUE 5
SINGAPORE: An executive condominium (EC) site at Choa Chu Kang Avenue 5 has attracted 11 bids, suggesting that developers are keeping a "positive outlook" on the market despite the notable unsold stock and an expected influx of units in the coming months.
Property firm SLP International Property Consultants said this is the highest number of bids for an EC site since the tender for a site at Anchorvale Crescent in February 2014. The tender for the 99-year-leasehold site in Choa Chu Kang Avenue 5 closed on Tuesday (Jul 28).
"That earlier tender attracted 12 bids. In addition, the average number of bids for the seven EC land tenders that were launched in 2014 was 5.4, almost half of the 11 bids submitted in the tender that closed today," SLP International's research and consultancy executive director Nicholas Mak said.
The top bid, from Qingjian Realty (Residential), Suntec Property Ventures and Bohai Investments (Sengkang), was S$156 million, or S$295 per square foot per plot ratio (psf ppr). The second highest bid, from TID Residential, was S$275 psf ppr.
But despite the number of bids, a market watcher said bid prices continue to stay low, below S$300 psf.
According to ERA Realty key executive officer Eugene Lim, the bids this time round were substantially lower than the winning bids by Sim Lian Land, which won the Wandervale site in September 2014 at S$361 psf, and MCL Land for the Sol Acres site at S$357 psf in February 2014.
An Anchorvale Crescent EC site went for $280 psf pr in February, and a Woodlands Avenue 12 EC site for $278 psf pr later that month, marking the lowest EC land prices since July 2011.
The EC vacancy rate was 14.1 per cent in the second quarter, representing 2,391 vacant units - though this was down from 15.1 per cent in the first quarter.
Qingjian Realty (South Pacific) Group general manager Li Jun said the firm has confidence in the EC market, noting: "There have been some signs of healthy take-up."
MCL Land paid $375 psf pr and $338.90 psf pr for two adjacent EC plots in Choa Chu Kang Grove in March last year, which it has combined into the upcoming Sol Acres.
In September, Sim Lian Land paid about $361.10 psf pr for an EC plot in Choa Chu Kang Drive. However, the two plots are closer to the Choa Chu Kang MRT Station.
Qingjian's Mr Li said it may incorporate some features from recent projects for the latest site. These include smart living technology.
Source: ChannelNewsAsia and Straits Times
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